5 Hot Insurance Stocks to Buy Now

3. eHealth, Inc. (NASDAQ:EHTH)

Number of Hedge Fund Holders: 20    

YTD Perf: 71.49%

eHealth, Inc. (NASDAQ:EHTH) operates a health insurance marketplace that provides consumer engagement, education, and health insurance enrolment solutions in the United States. On November 7, eHealth released its third-quarter financial results, showcasing a non-GAAP loss per share of $1.17, which surpasses the estimated earnings by $0.28. The revenue of the company amounted to $53.4 million, reflecting a year-over-year decrease of 16.4%. However, this figure still exceeded expectations by $4.93 million.

On December 1, 2022, Craig-Hallum analyst George Sutton upgraded eHealth, Inc. (NASDAQ:EHTH) stock to Buy from Hold with a $6 price target.

At the end of the third quarter of 2022, 20 hedge funds in the database of Insider Monkey held stakes worth $32.9 million in eHealth, Inc. (NASDAQ:EHTH), compared to 17 in the preceding quarter worth $64.8 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Starboard Value LP is a leading shareholder in Cigna Corporation (NYSE: CI) with 2.2 million shares worth more than $8.6 million.